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How tax calculator can help you calculate your taxable income?

Income Tax
Income Tax is a tax that is supposed to be paid by every business and every individual by law. These individuals or businesses are those that earn an income which is a significant amount on per annum basis with any services that they provide, savings account, products, pensions that they receive, businesses that they deal in, etc. in the country of India. The income taxes that people pay have to be shown on a income tax return sheet in order to process the returns and show how much taxes have been paid. This process should be done and dusted within the prescribed deadline. After that date, no filings for the taxes will be accepted for the purpose of tax returns. Even non - resident Indians (NRIs) have to pay taxes in the country as per law but it will only be for the income or salaries that they have generated or received with services they worked for in India and not in the country that they are a resident of.
What are Income Tax Returns - ITRs?
The Income Tax returns are tax…
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What is NPS Account and is it good to invest in it?

What is a NPS Account?
NPS stands for National Pension System. It was formed in the year 1999 by the Government of India to help people save money in a systematic way to use after their retirement. It is a voluntary entity which is defined contribution retirement savings scheme. It works in order to protect the volunteers that subscribed to the scheme/system by giving them higher returns and higher interest.
Types of National Pension Scheme funds
There are 3 types of NPS funds out of which the volunteer subscriber can choose from; they are as follows: ➢Government securities ➢Equities ➢Corporate funds
Why is it good to invest into National Pension Scheme?
Unbelievable Tax Exemptions Under the national pension system, the subscriber is subject to a lot of tax benefits and tax deduction through the sections in the Income Tax Act in India. Here are the 3 sections under which tax benefits in NPS become possible: Section 80 C C D - 1 A tax exemption of INR 1.5 lakhs or less can be made. Section 80…

Tips to choose best mutual funds in India

Mutual fund is a great investment option that can fetch you huge returns and is highly safe. If you have made up your mind to invest in a mutual fund, you may face an obstacle. How do you choose the best mutual funds to invest in India? This obstacle is often faced by the first time investor. This article details you the tips that can guide you to choose the ideal mutual fund that can fit your bill as well as promise better returns.
Tip 1: Know the performance rank of the mutual fund
Every mutual fund is analyzed on a daily basis and quarterly basis for its performance based on which the investors pool in to invest in the next quarter. In the list of top mutual funds, you should be able to see the top quartile comprising of highly performing schemes. You must go ahead with such schemes. Those schemes after 3rd quartile indicate the time to exit and you should always ignore them.
Tip 2: Know the objective of your investment
Many investors fail to get the desired returns due to lack of cl…

Is 5 crores enough to retire in India?

Many people want to save enough money for their future so that they can retire and enjoy their life in a peaceful manner. They always worry about how much money would be enough so that they can survive the rest of their lives without having to work. In this regard, let us discuss some crucial issues you need to consider when you are planning to retire. While some people feel that having one crore is sufficient to retire, few others feel that they need more than 5 crores to be able to lead a comfortable life in future.
Factors to consider before planning your retirement
There are many factors you need to consider before thinking about retirement. Remember that it is not a simple decision to take in your life and you will be leaving a steady source of income in most cases when you retire from work. The job market is very competitive and it may not be very easy to get a suitable job in future when you stop working for few years. In this situation, if you are past the age of 50 and thinking…

What is an endowment policy and when should you get it?

The endowment life insurance policy covers the risk and offers returns after the maturity. If there is a risk, the sum assured will be paid to the policyholder. The lump sum that you obtain through the maturity will be used for life’s important events such as children’s education, children’s marriage and funding the retirement. The endowment plan will fulfill the dual need of the insurance and the lump sum benefit. The policyholder will enjoy the tax benefits under Section 80C and Section 10 (10D).
Benefits of endowment insurance plan
·The endowment policycovers the risk·Risk-free assured returns·Offers financial protection to their loved ones·Ensures savings to meet the life’s milestones·To build corpus for a long-term·Best combination of insurance and investment·The bonus paid on the policy will be paid at the maturity

Who can buy endowment plan?
The endowment plan can be bought by policyholder who can contribute regular premium to build a corpus on a long-term basis. People who spe…